Despite growth in the scope and importance of the college or university chief development officer's role, it remains relatively unexamined and the subject of differing perceptions. This report reviews the history and current status of the development function. Major authors on the subject are reviewed and placed into four "schools of thought" concerning the roles of the development officer: (1) "salesman," which emphasizes soliciting gifts; (2) "catalyst," working behind the scenes to support fund-raising activities of presidents and volunteers; (3) "manager," which requires organizing fund-raising programs and staff; and (4) "leader," with a voice in policy decisions beyond fund-raising. A model is presented that includes two "vectors," one describing internal and the other external development functions, with the vectors overlapping. The report then examines personality traits of the successful development officer; development as an art or a science, as innate or learnable; the appropriate motivation for entering a development career; development as a profession; the development officer's relationship to the president; the development officer's relationship to the trustees; the development officer's role in institutional planning; and solicitation of gifts. Conclusions and recommendations are offered concerning institutional differences, the fund-raising team, and the development officer's role in the future. (Contains 67 references.) (JDD)